ITAM (IT Asset Management)

IT Asset Management, or ITAM, is a collection of business procedures and practises that supports asset tracking, decision making and asset life-cylce management in the IT secotr. In this context, the term ‘assets’ generally refers to all software (programs, operating systems, etc) and hardware (monitors, computers, keyboards, external hard drives, etc) owned or leased by a company.

In the case of hardware, ITAM would encompass the procurement, maintenance and disposal, renewal or replacement of all fixed assets; basically. physical computer components. The main objectives of using ITAM is to increase the life-cycle of hardware, in order to diminish yearly costs. An ITAM company or asset management software would record the financial information regarding the hardware’s life-cycle, allowing the company to make more informed corporate decisions, particularly regarding capital expenditure.

Ideally a company would have integrated ITAM software, allowing them to quickly and easily develop policies, processes and systems designed to increase revenue and minimise environmental impact.

The aim of ITAM is to minimise risk and expenditure, through hitting smaller, more specific targets. These goals would generally be to decrease expenditure, provide support, enhance life-cycle and perfomance of assets and to mimimise the companies’ carbon footprint. The ITAM software (or team) would generally also be responsible for the documenntation of all IT related assets in the company, making sure everything is accounted for an properly documented.

ITAM is usually at its most effective when properly and fully integrated within a business; this way the ITAM software can be accessed and used by all departments in the company. This kind of in-depth integration (particularly within areas such as HR, buying and help desks, etc.). allows for a fluid and systematic use of the ITAM software, providing the best results for lowering annual expenditure and increasing asset life-cycle.